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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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